Summary

Dow v. Memphis L. Railroad Railroad Company…

It is well settled that the mortgagor of a railroad, even though the mortgage covers income, cannot be required to account to the mortgagee for earnings, while the property remains in his possession, until a demand has been made on him therefor, or for a surrender of the possession under the provisions of the mortgage. That is the effect of what was decided by this court in Railroad v. Cowdrey, 11 Wall. 459, 483. In the present case a demand was mad for the possession by the bringing of this suit, February 12, 1884, and from that time, in our opinion, the company must account.
Source: Wikisource

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